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Private Law and the Somalis

Dick Clark the Younger has an interesting article that he adapted from an actual law school assignment. An excerpt: Because I recognize that government courts serve primarily to advance the interests of government power, my goals as an aspiring attorney are to use what I can from my legal education to work against the State—to […]

The Real Lessons of the Great Depression

Since late 2007, more and more commentators have drawn parallels between our current financial crisis and the Great Depression. Nobel laureates and presidential advisors [pdf] confidently proclaim that it was Herbert Hoover’s laissez-faire penny pinching that exacerbated the Depression, and that the American economy was saved only when FDR boldly ran up enormous deficits to […]

Why Did Texas Skirt the Housing Crash?

Von Pepe sends me this interesting analysis of the relatively moderate boom/bust in Texas house prices. The analyst thinks the answer is that Texas law prohibits prepayment penalties. In other words, homeowners in Texas were allowed to pay down their mortgages ahead of schedule, without being penalized by the lender. He concludes: I also want […]

Worst Job in the World: White House Press Secretary

This is hilarious. I heard this on the radio and had to share it. I only could stand the first 80 seconds or so, but make sure you listen for the male reporter who jumps in. Seriously, I understand why politicians lie–it’s good to be the king. But what’s in it for the press secretary? […]

Government Report: "Oops We Aren’t Good With Taxpayer Money"

According to CNBC: In a 250-page quarterly report to Congress, TARP’s special inspector general concludes that a private-public partnership designed to rid financial institutions of their “toxic assets” is tilted in favor of private investors and creates “potential unfairness to the taxpayer.” In related news, the National Academy of Sciences released a report saying that […]

Tentative Winner in Austrian vs. Chicago Reader Contest

Last week I pointed out that I had started saying “more than a year” ago what Chicago economist Casey Mulligan just recently realized, namely that the hope of government bailouts caused or at least exacerbated the frozen market in “toxic” assets. Because I was far too lazy to document my bold claim, I promised a […]

A Sample Interview for The Politically Incorrect Guide to the Great Depression and the New Deal

So far I have done 7 radio interviews today, and in a few moments will begin the 8th. But I have time to post the link [mp3] to my interview on “Trunews” with Rick Wiles. This was a very interesting show; I sounded like the moderate!

Comrade Obama to Make Bank Nationalization Official

Wow I’m really shocked. The federal government is using the financial crisis to enlarge its power over the private sector. The NY Times reports: President Obama’s top economic advisers have determined that they can shore up the nation’s banking system without having to ask Congress for more money any time soon, according to administration officials. […]